Relist - Active Investor wanting to consolidate bills
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 50% |
| Lender Rate: | 13% | Borrower: | texar |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Vibrant Capital Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-02-07 | EricsCC ROI: | -41% |
| Status History | |
|---|---|
| Feb 07, 2007 | Current |
| Feb 22, 2008 | Late |
| Mar 08, 2008 | 1 month late |
| Apr 08, 2008 | 2 months late |
| May 08, 2008 | 3 months late |
| Jun 10, 2008 | 4+ months late |
|
Hi. My name is Todd and I am a full time Real Estate Investor. I am 43 years old, and have a college degree from The University of Texas. Before becoming a Real Estate Investor, I was in electronics sales, oil industry sales, and owned my own sign company. In 2006 my rental portfolio grew, as I was able to duplicate my strategy time and time again. I am looking for a loan to consolidate some high interest rate accounts (Home Depot, etc) that I used to renovate my properties last year. The rates are pretty high so it makes sense to consolidate on Prosper where everybody seems to win. My current real estate portfolio consists of 26 houses that are valued at over $2,000,000 (approximately $75,000 per house) with an approximate equity of $650,000. Much of my net worth is tied up in my properties and to get it I would need to sell. Don?t be frightened by the ?C? rating (due to high balances on accounts like Home Depot, etc.)? I am a very credit worthy individual. My FICO score was a 755 before I started buying real estate. Now I have a lot of debt (but also equity) and my credit gets checked all the time. Currently, my FICO score is 667, and I just re-financed a $65,000 property with my bank today. Focus on my strengths: 1) I have no delinquencies or public records on my credit report? ever. I have used credit appropriately for over 20 yrs. 2) I pay creditors on a timely basis. It is very important to be viewed as a respectable businessman by the many banks, vendors and suppliers I deal with everyday. 3) My portfolio is 100% occupied and performing very well. 4) Current gross monthly rents are over $8,000 and will be over $12,000 in the next few months as more houses are refurbished and rented. These properties operate on minimal expenses so the majority of this money becomes my monthly income. 5) I won't default on this loan because I have houses to sell if I ever need to. In summary, I am a hard working individual looking to consolidate some debt and get a better rate. I am a low risk borrower yet I am offering a high interest rate. I pay on time so you will get a good rate and repayment security for the duration of this loan. Thank you for your bid. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 78263 | Experienced Real Estate Investor | C | $20,000 @ 12% | Dec 26, 2006 | Expired |
| 85045 | Relist - Active Investor, High Rate Opportunity | C | $9,999 @ 17% | Jan 15, 2007 | Withdrawn |
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